Keppel Corp continues to look outside of offshore for additional revenue amid the belief the sector’s deep downturn has some more time to run.
SGX-listed Keppel saw its second quarter profit slide by one fifth as declines at its Offshore and Marine arm overpowered a better showing from its property business.
Loh Chin Hua, chief executive of Keppel, said: “Despite some pick-up in activity in the offshore market, the general consensus is that, with the prevailing uncertainty in the oil market, and oversupply in the jackup market, a quick recovery is unlikely.”
